📕 OpenSea CEO's Statement

✅ OpenSea has received a Wells notice, which is a threat to sue us because the SEC believes that the NFTs on our platform are securities.

We did not anticipate that the SEC would take such broad action against creators and artists.

However, we are ready to stand up and fight.

By targeting NFTs, the SEC will stifle innovation on a much broader scale, putting hundreds of thousands of online artists and creatives at risk, many of whom do not have the resources to defend themselves.

NFTs are fundamentally creative products. They include art collectibles, video game items, domain names, event tickets, and more.

We should not regulate digital art in the same way we regulate secured debt.

If regulatory authorities' forceful actions cause creators to stop making digital art, it would result in a terrible outcome.